Looking for a BD

[qfs]

Does anyone have suggestions on a BD/RIA whose requirements are not too stringent yet offers reasonable compensation? I am currently affiliated with my BD and am now 65 licensed and they are requiring 2 minimum GDC production requirements. I have a modest securities business, approximately 3 million AUM and expect to do anywhere from 200-500k per year in new assets. I'm looking at Regal Financial, Foresters and Investacorp. I've also read that ONESCO is very fair. Does anyone have current information as to GDC requirements, fees , E&O etc on these companies or others that could fit the profile?

Thanks in advance!

 

[TwiLight]

Does anyone have suggestions on a BD/RIA whose requirements are not too stringent yet offers reasonable compensation? I am currently affiliated with my BD and am now 65 licensed and they are requiring 2 minimum GDC production requirements. I have a modest securities business, approximately 3 million AUM and expect to do anywhere from 200-500k per year in new assets. I'm looking at Regal Financial, Foresters and Investacorp. I've also read that ONESCO is very fair. Does anyone have current information as to GDC requirements, fees , E&O etc on these companies or others that could fit the profile?

Thanks in advance!

Check out ProEquities from Protective Life.... Their BD has always had low fees and requirements...

 

[DHK]

If you're contracted with Ohio National doing life production, then that life production also counts for your ONESCO B/D production too.

 

[qfs]

Thank You. I am currently speaking with ONESCO and will check out ProEquities.

 

[mfgs]

Check with MetLife I use to work with them and they have a good plan to finance new agents who are insurance licensed with IAR. Depending on experience you can get up to 19 weeks and then you are paid a percentage of your GDC every Friday. If you are looking for a Friday pay check that is consistent while you establish your business, you should check it out. Treated as a W2 employee with full benefit package. Weeks and percentages may have changed but I got 26 weeks with two raises on my pay and then I got 10% of my accumulated GDC every Friday.

 

[CFP83]

I'll throw out my two cents here.....

At your level of production/AUM's, I would really ask yourself why you would want to put up with all the FINRA/BD headaches. You just got your 65....go RIA or be an IAR of another RIA. As either of those your building a business-model that pays you every year that you manage those assets. I assume you do insurance business as well.....so your insurance business will pay you today and the investment business will slowly grow and pay you forever.

 

[intluser]

Are there any which do not require minimal sales in order to build up a newly minted series 65 holder? Just starting out and need time to build a base outside of just regular insurance.